CBL & ASSOCIATES PROPERTIES INC
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 3, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Lifestyle Center Lease Expirations
| Year EndingDecember 31, · Number ofLeasesExpiring · AnnualizedGross Rent (1) · GLA ofExpiringLeases · AverageAnnualizedGross RentPer SquareFoot · ExpiringLeases as % ofTotalAnnualizedGross Rent (2) · ExpiringLeases as a %of Total LeasedGLA (3) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 36 | $4,071,707 | 98,957 | $41.15 | 10.1% | 8.5% | ||||||
| 2026 | 62 | 7,204,307 | 247,563 | 29.10 | 17.9% | 21.3% | ||||||
| 2027 | 43 | 6,014,953 | 187,343 | 32.11 | 15.0% | 16.1% | ||||||
| 2028 | 36 | 5,013,065 | 135,020 | 37.13 | 12.5% | 11.6% | ||||||
| 2029 | 39 | 6,502,052 | 175,833 | 36.98 | 16.2% | 15.1% | ||||||
| 2030 | 26 | 4,613,715 | 133,729 | 34.50 | 11.5% | 11.5% | ||||||
| 2031 | 13 | 2,532,193 | 47,877 | 52.89 | 6.3% | 4.1% | ||||||
| 2032 | 11 | 1,548,989 | 32,671 | 47.41 | 3.9% | 2.8% | ||||||
| 2033 | 9 | 1,600,953 | 52,294 | 30.61 | 4.0% | 4.5% | ||||||
| 2034 | 9 | 1,127,516 | 51,796 | 21.77 | 2.8% | 4.5% | ||||||
(1)
Total annualized gross rent, including recoverable common area expenses and real estate taxes, in effect at December 31, 2024 for expiring leases that were executed as of December 31, 2024. Based on 100% of the applicable amounts and has not been adjusted for our ownership share.
(2)
Total annualized gross rent, including recoverable CAM expenses and real estate taxes, of expiring leases as a percentage of the total annualized gross rent of all leases that were executed as of December 31, 2024.
(3)
Debt on Lifestyle Centers
Please see the table entitled“Mortgage Loans Outstanding at December 31, 2024” included herein for information regarding any liens or encumbrances related to the lifestyle centers.
Open-Air Centers
Open-air centers are designed to attract local and regional area customers and are typically anchored by a combination of supermarkets, value-priced stores, big-box retailers or traditional department stores. The tenants at our open-air centers typically offer necessities, value-oriented and convenience merchandise. In many cases, the open-air centers in this category are adjacent to properties that are included in the malls reporting segment.
The following table sets forth certain information for each of our open-air centers at December 31, 2024 (dollars in thousands, except for sales per square foot amounts):
| Property / Location | Year ofOpening/ MostRecentExpansion | Company'sOwnership | TotalCenterSquare Feet (1) | TotalLeasableGLA (2) | PercentageGLAOccupied (3) | Anchors &JuniorAnchors |
|---|---|---|---|---|---|---|
| Open-Air Centers: | ||||||
| Ambassador Town Center (4)(5) Lafayette, LA | 2016 | 65% | 419,904 | 265,931 | 99% | Costco (6), Dick's Sporting Goods, Marshalls, Nordstrom Rack |
| Annex at Monroeville (7) Pittsburgh, PA | 1986 | 100% | 185,517 | 185,517 | 100% | Dick's Sporting Goods, Full Throttle Adrenaline Park |
| Coastal Grand Crossing (4) Myrtle Beach, SC | 2005 | 50% | 37,235 | 37,235 | 84% | PetSmart |
| CoolSprings Crossing Nashville, TN | 1992 | 100% | 366,451 | 78,810 | 100% | American Signature Furniture (6), Electronic Express (6), Gabe's (8), Target (6), Urban Air Adventure Park (8) |
| Courtyard at Hickory Hollow Nashville, TN | 1979 | 100% | 68,468 | 68,468 | 100% | AMC Theatres |
| Property / Location | Year ofOpening/ MostRecentExpansion | Company'sOwnership | TotalCenterSquare Feet (1) | TotalLeasableGLA (2) | PercentageGLAOccupied (3) | Anchors &JuniorAnchors |
|---|---|---|---|---|---|---|
| Fremaux Town Center (4)(5) Slidell, LA | 2014/2015 | 65% | 621,432 | 493,432 | 94% | Best Buy, Dick's Sporting Goods, Dillard's (6), Kohl's, LA Fitness, Marshalls, Michaels, T.J. Maxx |
| Frontier Square Cheyenne, WY | 1985 | 100% | 186,547 | 16,522 | 100% | Ross Dress for Less (8), Target (6), T.J. Maxx (8) |
| Governor's Square Plaza (4)(5) Clarksville, TN | 1985/1988 | 50% | 169,918 | 73,349 | 100% | Aldi, Jo-Ann Fabrics & Crafts, Target (6) |
| Gunbarrel Pointe Chattanooga, TN | 2000 | 100% | 273,913 | 147,913 | 100% | Kohl's, Target (6), Whole Foods |
| Hamilton Corner Chattanooga, TN | 1990/2005 | 90% | 67,310 | 67,310 | 100% | None |
| Hamilton Crossing Chattanooga, TN | 1987/2005 | 92% | 192,074 | 98,961 | 98% | Electronic Express (8), HomeGoods (8), Michaels (8), T.J. Maxx |
| Hammock Landing (4) West Melbourne, FL | 2009/2015 | 50% | 569,535 | 345,568 | 100% | Academy Sports + Outdoors, AMC Theatres, HomeGoods, Kohl's (6), Marshalls, Michaels, Ross Dress for Less, Target (6) |
| Harford Annex Bel Air, MD | 1973/2003 | 100% | 107,656 | 107,656 | 100% | Best Buy, Office Depot, PetSmart |
| The Landing at Arbor Place Atlanta (Douglasville), GA | 1999 | 100% | 162,958 | 113,717 | 73% | Ben's Furniture and Antiques, Ollie's Bargain Outlet, One Life Fitness (8) |
| Parkdale Crossing Beaumont, TX | 2002 | 100% | 88,064 | 88,064 | 98% | Barnes & Noble |
| The Pavilion at Port Orange (4) Port Orange, FL | 2010 | 50% | 398,001 | 398,001 | 88% | Belk, HomeGoods, Marshalls, Michaels, Regal Cinemas |
| The Plaza at Fayette Lexington, KY | 2006 | 100% | 209,540 | 209,540 | 88% | Cinemark, Sports Center |
| The Promenade D'Iberville, MS | 2009/2014 | 100% | 621,526 | 404,566 | 97% | Ashley HomeStore, Best Buy, Burlington, Dick's Sporting Goods, Kohl's (6), Marshalls, Michaels, Ross Dress for Less, Target (6) |
| The Shoppes at Eagle Point (4) Cookeville, TN | 2018 | 50% | 243,805 | 243,805 | 100% | Academy Sports + Outdoors, Publix, Ross Dress for Less |
| The Shoppes at Hamilton Place Chattanooga, TN | 2003 | 92% | 132,856 | 132,856 | 100% | Marshalls, Ross Dress for Less, Shoe Station |
| The Shoppes at St. Clair Square Fairview Heights, IL | 2007 | 100% | 84,383 | 84,383 | 80% | Barnes & Noble |
| Sunrise Commons Brownsville, TX | 2001 | 100% | 205,656 | 104,211 | 100% | Hobby Lobby (8), Marshalls, Ross Dress for Less |
| The Terrace Chattanooga, TN | 1997 | 92% | 158,109 | 158,109 | 100% | Academy Sports + Outdoors, Nordstrom Rack, Party City |
| West Towne Crossing Madison, WI | 1980 | 100% | 461,183 | 169,286 | 100% | Barnes & Noble, Best Buy, Crunch Fitness (6), Kohl's (6), Metcalf's Markets (8), Nordstrom Rack, Office Max (8), Spare Time Entertainment (8) |
| WestGate Crossing Spartanburg, SC | 1985/1999 | 100% | 158,262 | 158,262 | 100% | Big Air Trampoline Park, Hamricks, Jo-Ann Fabrics & Crafts |
| Westmoreland Crossing Greensburg, PA | 2002 | 100% | 279,073 | 279,073 | 100% | AMC Theatres, Dick's Sporting Goods, Levin Furniture, Michaels (8), T.J. Maxx (8) |
| York Town Center (4) York, PA | 2007 | 50% | 297,371 | 247,371 | 85% | Future Barnes & Noble, Best Buy, Bob's Discount Furniture, Burlington, Dick's Sporting Goods (6), Ross Dress for Less |
| Total Open-Air Centers | 6,766,747 | 4,777,916 | 96% | |||
(1)
Total center square footage includes square footage of attached shops, attached and immediately adjacent Anchors and Junior Anchors and leased freestanding locations.
(2)
All leasable square footage, including Anchors and Junior Anchors.
(3)
Includes all leased Anchors, Junior Anchors and tenants with leases in effect as of December 31, 2024.
(4)
(5)
The property is managed by a property manager that is affiliated with the third-party partner, which receives a fee for its services. The third-party partner controls the cash flow distributions, although our approval is required for certain major decisions.
(6)
Owned by the tenant.
(7)
(8)
O
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.